Diamonds and Dogs
At least one Dow component trading higher. Coca-Cola Company (KO) is up 2% not far from all-time highs following better than expected earnings. Revenue rose a healthy 8.3% year over year. Coke reported double-digit volume growth in Coca-Cola Zero Sugar in the U.S. Overseas sales have also been a bright spot with Minute Maid Pulpy in China and coffee and tea in Japan. One analyst upgraded the stock with a $60 price target saying the company is set up well for next year with earnings growth improvement.
Another tough day for retail stocks. Nordstrom (JWN) is down 2% after losing their CFO to another retailer. Macy's (M), GAP (GPS) and L Brands (LB) are all lower by at least 4% on downgrades from Credit Suisse. Heading into the seasonally strong holiday season, these stocks are not acting well, all down 50% in the last year. Thanks Amazon.